Hotel Chocolat chief faces a rebellion as city adviser voices concerns over him owning a joint venture

Hotel Chocolat bosses launched a passionate defence of their chairman last night amid concerns of a shareholder revolt.

City adviser Glass Lewis has told investors to vote against Andrew Gerrie at the chocolatier's AGM, saying he is not independent enough to be chair because he co-owns a joint venture.

Gerrie has a 53.5 per cent stake in beauty products firm Rabot 1745 while Hotel Chocolat has 34.5 per cent.

In the last financial year, Hotel Chocolat spent £366,935 on Rabot 1745 products.

Advisory firm ISS has also questioned his independence. It has recommended abstaining from voting for Gerrie's re-election as chairman on November 29 – and suggested he should not be on the audit committee.

A Hotel Chocolat spokesman said: 'We are totally satisfied that Andrew Gerrie is able to bring an independent perspective to the governance of Hotel Chocolat. Andrew played a pivotal role in steering our business forward since our successful [float] two years ago. He also built Lush into a 700-store success across the globe during his 20-year tenure as chief executive.'